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A state compliance officer handling a Georgia company policy update needs the compliant answer for licensing and NMLS authority. What should the reviewer choose?

Correct Answer

A) The Georgia Residential Mortgage Act is O.C.G.A. Sections 7-1-1000 through 7-1-1021, and Georgia DBF licenses mortgage brokers and mortgage lenders under the GRMA.

The Georgia Residential Mortgage Act is O.C.G.A. Sections 7-1-1000 through 7-1-1021, and Georgia DBF licenses mortgage brokers and mortgage lenders under the GRMA.

Answer Options
A
The Georgia Residential Mortgage Act is O.C.G.A. Sections 7-1-1000 through 7-1-1021, and Georgia DBF licenses mortgage brokers and mortgage lenders under the GRMA.
B
Use a verbal explanation instead of the required license status, disclosure, record, or filing.
C
Use a record-retention audit exception instead of satisfying the rule before activity continues.
D
Close or renew first, then decide whether the record-retention audit needs a compliance correction.

Why This Is the Correct Answer

The Georgia Residential Mortgage Act is O.C.G.A. Sections 7-1-1000 through 7-1-1021, and Georgia DBF licenses mortgage brokers and mortgage lenders under the GRMA.

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